Posts Tagged ‘online accounting’

FreeAgent and PCG join forces to support new and established freelancers

Tuesday, May 3rd, 2011

FreeAgent, the award winning online accounting system for freelancers and small businesses, has linked-up with PCG – the voice of freelancing, to help its members get on top of their finances.

PCG members will be able to subscribe to FreeAgent, which was voted Best SME Accounting Software in 2010, at a reduced rate.

FreeAgent helps people get a clear picture of their financial position, and users say they feel it puts them back in control of their finances. Hosted ‘in the cloud’, FreeAgent is accessible around the clock from any internet connection, which is ideal for the way many freelancers and small business owners work. Much more intuitive and accessible than conventional accounting software, users can send invoices, track time and expenses as well as monitor the financial health of their business and manage projects and payments. Uniquely it also automatically prepares and files VAT returns, projects self-assessed income tax and corporation tax obligations and helps manage payroll.

Ed Molyneux, founder and CEO of FreeAgent, says: “When we created FreeAgent we were all freelancers or contractors. We built it specifically to meet the needs you have when you are working for yourself or running a small business and want to manage your finances. So we are delighted that by working with PCG we will enable more people in that position to use our service.”

Working trends over a number of years as well as some more recent and stark economic factors have seen many more people becoming self-employed. While total employment rose by 0.8% between 2009 and 2010, the number of self-employed people increased by 2.4% to 3.98 million (Office for National Statistics, GDP and the Labour Market, 2010).

The move to freelance working can be daunting and challenging but both FreeAgent and PCG are dedicated to helping these individuals to face the legislative and practical challenges of starting and growing their own businesses.

Iain McIlwee, Head of Commercial Development at PCG, says: “Britain’s growing freelance workforce plays an essential role in our economy. FreeAgent has a good track record of helping freelancers so I am delighted that we have secured a great discount for our members and will be working more closely with the team there.”

PCG was formed in May 1999, specifically to provide independent contractors and consultants with a representative voice in opposition to the original IR35 proposals.

Since then, it has grown to become the main voice and professional body representing these businesses and individuals, and now has in excess of 20,000 members who can benefit from a huge range of advice and information it makes available, as well as an open and friendly community of other freelancers.

All FreeAgent accounts start with a 30-day free trial, and are charged on a monthly, pay-as-you-go basis starting from £15 per month. There’s no commitment to sign up, and you can cancel at any time. To sign-up for a month’s free trial and find out more about what FreeAgent can do visit

For more information, contact Lucy Smith.

FreeAgent and Receipt Bank make claiming expenses easier

Wednesday, February 16th, 2011

Freelancers and small business owners will now be able to save time and money by processing out-of-pocket expenses quickly and painlessly, thanks to a new partnership between Receipt Bank – the receipt processing service – and online accounting pioneers FreeAgent.

Many out-of-pocket expenses are often lost in the fog of running a small business: receipts get mislaid or forgotten, or build up into a pile, and the opportunities for reclaiming the money and appropriately charging clients are missed. This can make a real difference to the business owner’s take-home pay and the business’s profitability.

The partnership between FreeAgent and Receipt Bank aims to make this a thing of the past by freeing users from the paperwork and drudgery of having to manually keep track of these bits of paper, and helping the UK’s freelancers and other small business owners quickly and easily reclaim every penny they are owed.

Ed Molyneux, CEO of FreeAgent, says: ‘From today users will be able to send their receipts to Receipt Bank and the data will flow automatically into FreeAgent – so no laborious data entry or effort is required. Once in FreeAgent the expenses can be reclaimed from the client and from your business, and offset against tax bills.’

Michael Wood, Director of Receipt Bank, says: ‘Users can send us their receipts by email, by iPhone, or by old-fashioned mail using the freepost envelopes we provide. We will then scan and process their expenses data. Today’s announcement enables FreeAgent users to automatically see this information in their accounts without any need for manual inputting!’

In these tough times we all want to make sure we’re as financially astute as possible and through this partnership FreeAgent and Receipt Bank will provide freelancers and small business owners with another way of keeping on top of their finances.

For more information, email Lucy Smith.

FreeAgent Central secures funds for expansion

Tuesday, March 24th, 2009

FreeAgent Central has secured its first round of funding, positioning the company for rapid expansion as it embarks on an aggressive growth strategy.

The independent software company, pioneering online accounting specifically for small businesses and freelancers, has received an undisclosed amount of investment from private and angel investors including serial entrepreneur Christoph Janz, founder of Pageflakes and an early investor in Zendesk, another highly successful SaaS player.

This comes after a hugely competitive start to the year with a sustained 40% increase in users every month during the first quarter.

Built for freelancers, by freelancers, FreeAgent has engaged with its users since its launch to ensure its software is simple in design, highly intuitive and usable. Most recently the company completed a wholesale redesign of the site’s interface and implemented a number of improvements, many of which were suggested by its users.

“Anyone who’s founded a startup will recognise the problem: it can be hard to get to grips with the accounting side of things,” said Christoph Janz, who joins the board of directors at FreeAgent Central. “The team have created an easy-to-use solution to that problem which I believe will have a big impact on the success of its small business customers.”

This funding and future investment will all aid the development of new features including exciting developments in multi-currency accounting, internationalisation and predictive cashflow.

The company has also successfully forged partnerships with some of the UK’s largest accounting practices. A leading provider of accountancy services to professional contractors and freelancers, London-based Blevins Franks will now be providing all its clients with a subscription to the FreeAgent service as part of its offering.

Providing FreeAgent software to practices means accountants spend less time number crunching, more time offering accounting advice and giving businesses a lot more transparency in their figures.

Phil Richards from Blevins Franks commented, “After 16 years helping Freelancers and Contractors run their Limited Companies FreeAgent have come up with something really special that enables a contractor to run their own company simply and easily. The last 12 months that we have worked with FreeAgent have been very exciting for us and we look forward to adapting our services as FreeAgent service itself develops more”.

Ed Molyneux, CEO of FreeAgent Central comments: “During an economic crisis it is vital small businesses and freelancers have a clear picture of their finances and the ability to control their cashflow.

“With this investment we can continue to improve our service for those in need of easy-to-use financial management tools, and expand quickly to reach even more of those small businesses and freelancers that make up the engine room of the British economy. We’re delighted to be welcome Christoph to the team and he’s already been able to provide invaluable help.”

Unlike accounting packages like Sage and Quickbooks, FreeAgent is web-based, requires no downloads or installation and is accessible from any computer with internet access. Uniquely, it is also able to provide a ‘Tax Timeline’ – a real-time forecast of tax liabilities and deadlines which help the business owner to avoid tax bill surprises and missed deadlines.

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